Only A Deep Recession Can Tame High Prices, Says Bank of America

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Meanwhile, Friday’s strong jobs report from the Bureau of Labor Statistics showed nonfarm payrolls increased by 372,000 in June, well above expectations. That might influence the Federal Reserve to lead more aggressive rate hikes, as it prioritizes its battle to fight inflation over growth concerns.

Deutsche Bank’s latest client survey revealed that 90% of respondents expect a US recession by the end of next year, which is up from 35% of respondents in December, according to Bloomberg